The American Society of Civil Engineers says the U.S. will need to invest almost $6 trillion in building and fixing roads, bridges, buildings, and more over the next decade to keep everything safe and up to date.
The ASCE issues an Infrastructure Report Card every year, and the 2021 grade is a C-, which is the first time it has been better than a D in two decades.
However, of the 17 categories making up the overall grade, 11 were in the D range indicating “significant deterioration” with a “strong risk of failure.”
The report indicates the areas needing the most attention are public transit, storm water infrastructure, airports, roads and highways. That of course doesn't leave much else.
The $5.9 trillion the ASCE is calling for in relief is about $2.6 trillion more than what is spent on infrastructure by the federal government and the private sector.
Among the areas receiving a grade of "D" are road systems. The report indicates Americans are paying on average about $1,000 each year on lost time, fuel consumption, and vehicle repairs because of the condition of the roads.
The ASCE says the U.S. is nearly $800 billion behind in new projects from years of neglect.
The Highway Trust Fund was the primary source of funding for road construction projects, based in large part from tolls and fuel tax, however this fund is running out of money.
Fuel tax has not increased in nearly 30 years while new cars are more fuel efficient. Those factors have dramatically cut into the fund. The Congressional Budget Office estimates that by next year, the Highway Trust Fund is projected to have a $15 billion deficit. The ASCE says raising the tax rate is a must.
Going forward, the also ASCE suggests focusing resources on repairs, new policies to improve travel time, an efforts to maximize work currently being done.
The ASCE is calling on more funding from the federal government and the private sector.
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